I myself am a fan of anything Tim Rice has written, so I wasn't surprised that I adored "Chess." There's a little good in each version, and eventually I hope to stitch that all together into my own revision effort.
That said, the reason there's a book problem with "Chess" is that whoever's working on it at the time loses the point. It can't be both a love triangle and a story of chess amid Cold War politics unless there's an extremely good balance between the two. Otherwise, the concept of trying to pin the chess metaphor on both the love and the Cold War politics falls flat and it becomes (as sweetestsiren's sig unwittingly put it) "just projecting your intellectualism on people who have NO IDEA WHAT YOU'RE TALKING ABOUT!"
I know of a young playwright who has done services as a dramaturg on several productions of "Chess," and he turned out a
very good version of the Broadway/U.S. tour script that found a comforting middle. (PM me if you want to see...er...know more.) It's not the best one ever done, but it has the most hope when Samuel French will only license the Broadway version in the States,
"There is no problem so big that it cannot be run away from."
~ Charles M. Schulz